The investors agreed to buy 499 million shares of Citi's Mexican retail unit for around $2.5 billion. The sale was at a small premium to the initial stake the megabank sold to Mexican billionaire Fernando Chico Pardo last year.
Bank employees are likely adopting the OpenClaw AI assistant on the sly to boost productivity, but the tool's deep integration exposes networks to cyber threats.
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Critics say more regs for BNPL are overkill, but proponents hope the state rule will be a framework for other states.
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After a federal judge allowed a new state law to ban interchange fees on taxes and tips, a coalition of banks and credit unions struck back.
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Banc of California appoints Chris Healy its new executive director and head of payments; Lia Fordjour is named chief financial officer of the American Bankers Association; Airwallex is the latest fintech to lean on sports sponsorships; and more in this week's banking news roundup.
A public-private group led by the Treasury issued the first two of six planned resources to help banks navigate the risks and opportunities of AI.
A written agreement between Kentucky First Federal Bancorp and the Office of the Comptroller of the Currency was terminated in 20 months, less than half the time that management feared it might take.
Federal Reserve Gov. Christopher Waller said during an appearance Monday his decision on whether or not to support a cut to short-term interest rates depends on labor market indicators.
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As geopolitical threats loom, the U.S. needs a better-coordinated AML strategy. The Treasury Department's Financial Crimes Enforcement Network should take the lead in implementing needed reforms.
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Banks are deploying extremely powerful AI systems but expecting generalist employees to operate them safely and consistently without redesigning workflows around the technology. That virtually guarantees a bad outcome.
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Doubling down on what has worked in the past — especially if it's still working now — may inadvertently trap banks into business models ill-suited for the future. Smart bankers make room for change before it is forced on them.
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The CFPB is in an existential legal brawl against it's own acting director, Russell Vought, and President Donald Trump, whose confirmed goal is to kill the agency.
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Research from Andrew Davidson claims a significant number of mortgage borrowers would have a wide variance in credit score if less than three pulls are used.
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Treasury Secretary Scott Bessent said in a public appearance in Dallas Friday that the administration will seek alternative means of enacting the White House's tariff agenda after the Supreme Court struck down the tariffs as outside the bounds of the law.
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Shares of the neobank plummeted nearly 30% Thursday despite posting revenue over $1 billion as investors balked at up-front loan provision expenses that come with the expansion of Klarna's longer-term installment loans.
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The relevant Florida statute does not permit President Donald Trump's allegation that JPMorganChase CEO Jamie Dimon directed the bank to put Trump and his businesses on a "blacklist," the bank said in a legal filing.
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The annual rankings honor the notable performances of individuals in banking and finance and as teams.
Call for submissions for women 40 years and younger who are rising leaders at their bank or financial institution.
The 23rd annual ranking of women leaders in the banking industry.
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Partner insights from Dell Technologies with NVIDIA -
Partner insights from Dell Technologies with NVIDIA -
Partner insights from Dell Technologies with NVIDIA -
Partner Insights from Dell Technologies with NVIDIA
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Partner Insights from Penguin
